Silesian courts are overflowing with bankruptcy petitions
Between January and April 2020, there were many more bankruptcy applications than in the same period in 2019. There are fewer applications to open restructuring. According to forecasts, the number of bankruptcy applications in Silesia may increase even 3 times.
Between January and April 2020, the Silesian courts received a total of 450 applications. In the same year 2019, 381 applications were received. It is predicted that the number of filed bankruptcy petitions will increase even more.
In turn, as far as motions to open restructuring are concerned, from January to April 2020, 27 motions were submitted to Silesian courts. In the same period of 2019, 41 applications were received. This is most likely due to the aid introduced under the anti-crisis shield and the lack of knowledge of many debtors about the possibility of using the restructuring right.
According to specialists, if the economic situation caused by COVID-19 does not improve, the number of insolvency proceedings will increase significantly.